Fake Checks? This is for real!

“As economy worsens, fake check scams spread” – An alarmist statement? Indeed, but it will do you good to keep reading. In his article on www.msnbc.msn.com, Herb Weisbaum warns people about the prevalence of check and money order scams.

According to Weisbaum, the Consumer Federation of America discovered that “a third of all adult Americans have been approached with fake check scams and at least 1.3 million have fallen for it.” Those are scary numbers and all the more reason to be vigilant.

Scammers use a “creative story” as bait to trick otherwise intelligent people into sending them thousands of dollars. A person might receive an email telling them they have won the lottery or a contest, or that they have received payment for an online work-at-home gig. Once they get their check, they are asked to cash it, keep a portion of the funds and wire off the rest, which is usually between $3 – 4000, sometimes more.

Here’s the bad news: If you fall for this scam, cash the check and wire off the money – the money is gone for good! The bank may only figure out that the check is counterfeit way after you have sent the wire; these checks often look very convincing. And you will be responsible for paying back the bank.

AlertPay’s name has often been dragged into this scam as this special brand of con artist uses the names, logos and corporate information of reputable companies to further fool people into sending them money. Many AlertPay members have received checks that look like they are from us, but have been asked to cash the check, keep a percentage and wire the difference to someone usually located overseas. Weeks after sending the money, they find themselves in a lot of trouble with the bank.

In short, if someone asks you to pay to claim your paycheck, lottery winnings or contest prize - don’t do it! If you receive a check that you were not expecting – don’t do anything with it! If you receive a check for more than you were expecting and are instructed to send the difference off to someone else - don’t do it! Finally, if you receive an AlertPay check even if you have not withdrawn money from your AlertPay account – do not cash it! Contact us before you do anything.

Please view the original article for more information: http://www.msnbc.msn.com/id/30968506/.

You can also view the following website for more information on counterfeit checks: fakechecks.org.